Date: Monday, December 17, 2007

Re:	BAF – South America / Caribbean / Mexico

The following BAF levels will be effective as of January 15, 2008:

BAF from East Coast and West Coast South America to U.S. will increase to:

USD 344/20’
USD 688/40’

BAF from Mexico and the Caribbean to U.S. will increase to:

USD 217/20’
USD 434/40’

The Emergency Bunker Surcharge (EBS) effective January 15, 2008, will increase to USD 115/20’ and USD 230/40’.